News

Home loan demand climbed in November: Report

NEW data from the Australian Bureau of Statistics has found home loan demand climbed steadily higher over the month of November.

According to the November Housing Finance Data, 56,798 home loans were approved over the course of the month - up 1.8% from 55,796 in October.

How do you feel about owning a home?

This poll ended on 19 January 2016.

I already own a home - 0%

I'm saving for one - 100%

It'll probably never happen, it's nearly impossible - 0%

This is not a scientific poll. The results reflect only the opinions of those who chose to participate.

And it wasn't just the total number of home loans approved that increased, with the data showing the total value of all home loans written grew 1.8% over the course of the month.

"In November, more than $33 billion worth of home loans were written," Mortgage Choice chief executive officer John Flavell said.

"This spike in both the number and value of all home loans written can largely be attributed to the growth in lending for owner occupied housing."

As per the data, the total value of all owner occupied home loans written was $21.753 billion - up 2.4% on the month prior.

Meanwhile, the total value of investment loans written climbed 0.7% over the course of November.

Mr Flavell said the slight uptick in the value of investment loans written was surprising given that Australia's lenders have made some sweeping changes to their investment policy and pricing in recent months.

"Last month, we saw a significant drop in the total value of investment loans written - a drop we attributed to the recent investment lending changes," he said.

"This month, we have seen investment lending increase slightly, which is very pleasing as it suggests the housing market remains robust."

Mr Flavell said he was also pleased to see a spike in the total value of owner occupied loans written, as research conducted by RP Data had shown that property values across the combined capital city fell throughout the month of November.

"In November, property values across the combined capital cities fell 1.5%. Sydney and Melbourne led the charge, with the capital cities recording a 1.4% and 3.5% fall in values respectively," he said.

"Despite this, the total value of all home loans written remained strong, which is a really good sign for the future.

Topics:  housing loans



St Luke's welcomes new leader

SCHOOL'S IN: St Luke's Anglican School's new principal Craig Merritt is looking forward to making connections in the community.

Craig Merritt takes the lead as the new principal

PHOTOS: Have a look inside revamped Alloway club

AT THE VENUE: Eden Wickens and Steffanie Marschke.

If a change is as good as a holiday, then have one in Alloway

Irukandji symptoms and what you need to do if stung

FIRST AID: Irukandji - Irrigate sting with vinegar for up to 30 seconds, call an ambulance.

Irukandji affects people differently.

Local Partners

Nurse says Blue Care 'don't care about staff' at Millbank

MILLBANK Village staff members remain angry, are distressed and feel deceived over Blue Care's decision to downsize the aged care facility.”


Celebrations to deliver flavours of China

YEAR OF THE ROOSTER: Councillor Judy Peters, Dylan Carter as Buddha), Tina Yuanyuan, Lilly Matthews and the PCYC Blazers dragons are gearing up for Chinese New Year.

Tea ceremony and old favourites at annual event

What's happening in Bundy today?

Things to do in Bundaberg today.

A list of five things happening around the region today.

50 Shades actress on why she hates the film

Dornan and Johnson’s frequent sex scenes were ‘awkward’ to film. Picture: SuppliedSource:Supplied

Jamie Dornan doesn’t blame you for hating 50 Shades

Chris Hemsworth’s X-rated compliment to former co-star

Australian actor Chris Hemsworth poses on the red carpet for the European premiere of the film 'Avengers: Age of Ultron' in London on April 21, 2015.

THOR star once paid former Home and Away actress a lewd compliment.

'I can't keep my mouth shut any longer'

Singer George Michael.

George Michael’s cousin blasts singer’s boyfriend Fadi Fawaz.

Fresh faces: NCIS gets a shake up with new cast members

The new cast of NCIS, from left, Rocky Carroll, Pauley Perrette, Sean Murray, David McCallum, Brian Dietzen, Wilmer Valderrama, Emily Wickersham, Mark Harmon, Duane Henry and Jennifer Esposito.

THREE new characters join naval drama for season 14.

First the Onesie, now an Xbox One S inflatable controller

Fancy an inflatable Xbox One S controller?

Inflatable controller 'perfect sidekick' for Australia Day party

Sarah Harris: Here’s what Amber Sherlock should’ve done

Studio 10 and Shark Tank presenter Sarah Harris.

STUDIO 10 host says Sherlock could’ve avoided the subsequent uproar.

Historical home leaves family's hands after 75 years

SALE CONFIRMED: The Gympie Regional   Realty team which sold the Ramsey property are (back) Mel Gastigar, Dorothy Palmer and Margaret Cochrane, with (front) home seller Terri-Jayne Ramsey.

Ramsey family played a huge role in Gympie's growth.

What a year 2016 proved to be

Entrance Island, Birtinya

Get the inside info from the agents themselves

REVEALED: What Coast wants in an international airport

Sunshine Coast business people share their views on what's needed

Time for a cool change

43 Eckersley Ave, Buderim.

Family home goes to the auction floor

Designer home set in lush tropical gardens

This home has it all and more

Ready to SELL your property?

Post Your Ad Here!